A Firm Will Purchase Additional Units of a Resource as Long

question 215

Multiple Choice

A firm will purchase additional units of a resource as long as each unit's

• A)marginal revenue product is greater than zero
• B)marginal revenue product equals the product price
• C)marginal revenue product is greater than or equal to its marginal resource cost
• D)marginal revenue product is less than its marginal resource cost
• E)total revenue product is greater than its marginal resource cost

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Definitions:

Videocassette Recorders

A device used for recording and playing back video content on magnetic tape cassettes.

Nonresponse Error

A bias in survey results that happens when the answers of respondents differ from the potential answers of those who did not answer.

Responses

The answers or reactions provided by subjects in a research study or survey.

Sample

A portion of a broader demographic picked for the sake of conducting studies, observations, or questionnaires to collect data representative of the larger population.